OptiNose (NASDAQ:OPTN) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of OptiNose (NASDAQ:OPTN) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $5.00 price objective on the stock. HC Wainwright also issued estimates for OptiNose’s FY2024 earnings at ($0.18) EPS, FY2025 earnings at ($0.03) EPS, FY2026 earnings at $0.08 EPS, FY2027 earnings at $0.23 EPS and FY2028 earnings at $0.35 EPS.

OptiNose Trading Down 4.4 %

OptiNose stock opened at $0.44 on Wednesday. OptiNose has a 12 month low of $0.41 and a 12 month high of $2.10. The stock has a fifty day simple moving average of $0.73 and a two-hundred day simple moving average of $0.95. The firm has a market cap of $65.61 million, a price-to-earnings ratio of -1.55 and a beta of -0.07.

Hedge Funds Weigh In On OptiNose

Hedge funds have recently bought and sold shares of the business. Stonepine Capital Management LLC bought a new stake in shares of OptiNose in the second quarter worth approximately $2,444,000. Great Point Partners LLC grew its position in OptiNose by 56.2% in the 2nd quarter. Great Point Partners LLC now owns 13,727,097 shares of the company’s stock worth $14,276,000 after purchasing an additional 4,940,779 shares during the period. XTX Topco Ltd bought a new stake in OptiNose in the 2nd quarter worth approximately $88,000. Squarepoint Ops LLC lifted its holdings in shares of OptiNose by 173.7% during the 2nd quarter. Squarepoint Ops LLC now owns 171,610 shares of the company’s stock valued at $178,000 after buying an additional 108,903 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of OptiNose by 2.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,920,309 shares of the company’s stock worth $3,037,000 after buying an additional 81,233 shares during the last quarter. Hedge funds and other institutional investors own 85.60% of the company’s stock.

About OptiNose

OptiNose, Inc, a specialty pharmaceutical company, focuses on the development and commercialization of products for patients treated by ear, nose, throat, and allergy specialists in the United States. The company offers XHANCE, a therapeutic product utilizing its proprietary exhalation delivery system (EDS) that delivers a topically acting corticosteroid for the treatment of chronic rhinosinusitis with nasal polyps, as well as is in Phase IIIb clinical trial for treatment of chronic sinusitis; and Onzetra Xsail, a powder EDS device.